ProVise Management Group LLC reduced its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 28.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,311 shares of the financial services provider’s stock after selling 5,200 shares during the period. ProVise Management Group LLC’s holdings in The Charles Schwab Corporation were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SCHW. WealthTrust Arizona LLC increased its stake in shares of The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 29 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its stake in shares of The Charles Schwab Corporation by 0.9% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 6,770 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 62 shares in the last quarter. Atria Investments LLC increased its stake in shares of The Charles Schwab Corporation by 0.4% in the second quarter. Atria Investments LLC now owns 15,025 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 65 shares in the last quarter. Summit Asset Management LLC increased its stake in shares of The Charles Schwab Corporation by 0.6% in the second quarter. Summit Asset Management LLC now owns 12,158 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 70 shares in the last quarter. Finally, Osborne Partners Capital Management LLC increased its stake in shares of The Charles Schwab Corporation by 0.6% in the second quarter. Osborne Partners Capital Management LLC now owns 14,161 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 90 shares in the last quarter. 79.93% of the stock is owned by institutional investors and hedge funds.

The Charles Schwab Corporation (SCHW) traded up $0.96 during mid-day trading on Wednesday, reaching $46.08. 7,767,000 shares of the company’s stock traded hands, compared to its average volume of 7,050,257. The Charles Schwab Corporation has a fifty-two week low of $37.16 and a fifty-two week high of $46.33. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $60,486.79, a price-to-earnings ratio of 28.92, a P/E/G ratio of 1.92 and a beta of 1.74.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The Charles Schwab Corporation had a net margin of 27.30% and a return on equity of 15.77%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business earned $0.35 earnings per share. The Charles Schwab Corporation’s quarterly revenue was up 13.1% compared to the same quarter last year. research analysts anticipate that The Charles Schwab Corporation will post 1.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.32 annualized dividend and a yield of 0.69%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is currently 20.51%.

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In other news, insider Walter W. Bettinger bought 72,510 shares of the stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average price of $27.21 per share, for a total transaction of $1,972,997.10. Following the acquisition, the insider now owns 41,330 shares of the company’s stock, valued at $1,124,589.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marie A. Chandoha sold 6,018 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $44.06, for a total transaction of $265,153.08. The disclosure for this sale can be found here. Insiders have sold 923,095 shares of company stock valued at $41,179,740 in the last quarter. 12.00% of the stock is owned by company insiders.

A number of analysts have recently issued reports on SCHW shares. Morgan Stanley reissued an “overweight” rating and issued a $51.00 price objective (up from $48.00) on shares of The Charles Schwab Corporation in a research note on Tuesday, July 25th. BidaskClub cut shares of The Charles Schwab Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Barclays PLC started coverage on shares of The Charles Schwab Corporation in a research note on Friday, September 8th. They issued an “overweight” rating and a $48.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $47.07.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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